, which is the federally appointed board overseeing the island’s finances as it attempts to claw back from its crippling debt.
Puerto Rico Gov. Ricardo Rosselló labeled PREPA’s debt restructuring as “critical” to creating a “client-centered energy sector that promotes investment and economic development on the island." Yet the agreement would not exempt residents and businesses that elect to generate their own electricity by using solar panels from paying the power authority’s debt, a move that could deter people from switching to renewable energy at a time when almost 80 percent of Puerto Rico's energy comes from imported oil.
The deal comes amid negotiations to privatize the power authority, with transmission and distribution contracts with private companies expected to be in place next year.
Problem with debt is you have to pay it off
This is on them. Years of corruption. Power costs in the islands are high to begin with. They squandered everything they had. No excuses.
Go solar!! Rebuild using solar panels. Be the model. Take the lead.
Somebody teach the Puerto Ricans about debt please